18,658 Champion Homes, Inc. $SKY Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in shares of Champion Homes, Inc. (NYSE:SKY) by 75.2% in the third quarter, HoldingsChannel.com reports. The firm owned 6,151 shares of the company’s stock after selling 18,658 shares during the period. Oppenheimer & Co. Inc.’s holdings in Champion Homes were worth $527,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Champion Homes in the second quarter worth about $794,354,000. Wasatch Advisors LP increased its holdings in Champion Homes by 0.4% during the 2nd quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company’s stock valued at $242,111,000 after purchasing an additional 10,749 shares during the period. Dimensional Fund Advisors LP raised its position in Champion Homes by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company’s stock valued at $129,111,000 after purchasing an additional 80,531 shares during the last quarter. Congress Asset Management Co. raised its position in Champion Homes by 0.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company’s stock valued at $104,773,000 after purchasing an additional 9,597 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Champion Homes during the 2nd quarter valued at approximately $52,406,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Barclays boosted their target price on Champion Homes from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group upped their target price on Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Oppenheimer started coverage on Champion Homes in a research note on Wednesday, September 30th. They issued a “market perform” rating for the company. Finally, Royal Bank Of Canada lifted their price target on shares of Champion Homes from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.25.

Champion Homes News Summary

Here are the key news stories impacting Champion Homes this week:

• Positive Sentiment: Quarterly EPS of $0.95 topped estimates, while revenue of $727 million exceeded expectations and grew 6.2% year over year. Zacks earnings report
• Positive Sentiment: Manufacturing orders rose 17% year over year, and captive retail accounted for 39% of second-quarter sales, pointing to activity across the business. The Motley Fool article
• Positive Sentiment: RBC raised its price target to $99 from $94 and maintained an Outperform rating; Barclays lifted its target to $110 from $109 and kept an Overweight rating. These revisions signal continued analyst optimism. RBC price target update
• Negative Sentiment: Despite the sales growth and earnings beat, EPS was down from $1.01 a year earlier, and coverage of the earnings call highlighted cost pressures squeezing margins. That may temper the positive results and analyst outlook. 247WallSt earnings analysis

Insider Buying and Selling at Champion Homes

In other news, Director Michael Berman sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the transaction, the director owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Champion Homes Price Performance

Shares of NYSE SKY opened at $93.06 on Friday. Champion Homes, Inc. has a 1 year low of $63.87 and a 1 year high of $99.17. The stock has a market capitalization of $5.05 billion, a P/E ratio of 27.61 and a beta of 1.03. The company’s 50-day moving average is $83.97 and its 200 day moving average is $82.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.75 and a quick ratio of 1.97.

Champion Homes (NYSE:SKY) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. The business had revenue of $727.03 million during the quarter, compared to analyst estimates of $719.71 million. Champion Homes had a net margin of 6.84% and a return on equity of 12.17%. Champion Homes’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, sell-side analysts expect that Champion Homes, Inc. will post 3.40 earnings per share for the current year.

Champion Homes Profile

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.